Senco Gold Raises INR 121.49 Crore from Anchor Investors Prior to IPO
Kolkata-based jewelry retailer, Senco Gold, has successfully secured INR 121.49 crore from 21 anchor investors on July 3, ahead of the opening of its initial public offering (IPO). The anchor portion of the IPO is specifically designated for qualified institutional investors.
In a filing submitted to the stock exchanges, Senco Gold announced the allocation of 3,832,000 equity shares to anchor investors at a price of INR 317 per share, which represents the upper price band.
Among the prominent investors who participated in the anchor book were Ashoka Whiteoak Emerging Markets Trust, Nippon Life India, Whiteoak Capital, Jupiter India Fund, Bandhan Mutual Fund, Templeton India Value Fund, Sundaram Mutual Fund, Max Life Insurance Company, BNP Paribas Arbitrage – ODI, Societe Generale, and Elara India Opportunities Fund.
Senco Gold, the leading organized jewelry retailer in the eastern region of India based on store count, is set to commence its INR 405 crore public issue on July 4, offering shares in the price range of INR 301-317 per share. The IPO will conclude on July 6.
The IPO consists of a fresh issuance of shares worth INR 270 crore, along with an offer for sale of INR 135 crore by its investor SAIF Partners India.
The primary utilization of the proceeds from the fresh issue will be towards fulfilling working capital requirements and general corporate purposes.
Half of the IPO’s total size has been reserved for qualified institutional investors, 15 percent for non-institutional investors, and the remaining 35 percent for retail investors.
About Senco Gold:
Senco Gold Limited functions as a jewelry store, providing a wide range of gold and diamond jewelry options. Their offerings include earrings, necklaces, bangles, coins, bars, pendants, rings, bracelets, chains, and gold coins. Senco Gold primarily serves customers in India.
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